Elon Musk Vs. OpenAI - The Lawsuit

Elon Musk filed a lawsuit last week against OpenAI and its CEO Sam Altman, alleging the company’s deal with Microsoft compromised the start-up’s original mission.  Musk is seeking disgorgement, additional unspecified damages and specific performance. Let’s go through these claims one by one, see what legal experts have been saying about the case. We will also discuss the Open AI memo saying that the claims in this lawsuit suit stem from Elon’s regrets about not being involved with the company today and the emails OpenAI released showing that Musk initially supported the plan to create a for-profit entity and wanted a merger that would make Tesla its "cash cow." Patrick's Books:Statistics For The Trading Floor:  https://amzn.to/3eerLA0Derivatives For The Trading Floor:  https://amzn.to/3cjsyPFCorporate Finance:  https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://buymeacoffee.com/patrickboyleVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle on YouTubePapers Mentioned:Copy of the Legal Complaint: https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rYCUmwA4Xxpw/v0Ann Lipton Blog: https://lawprofessors.typepad.com/business_law/2024/03/spins-roulette-wheel-moelis-and-openai.htmlJeremy Tilman Blog: https://lawprofessors.typepad.com/contractsprof_blog/2024/03/musk-v-altman-the-breach-of-contract-claims.htmlMatt Levine Article: https://www.bloomberg.com/opinion/articles/2024-03-01/openai-isn-t-open-enough-for-elon Nilay Patel Article: https://www.theverge.com/2024/3/1/24087937/elon-musk-suing-openai-nightmare-1l-contracts-exam Support the show

Om Podcasten

This podcast is all about quantitative finance and financial history. Subscribe to hear about financial markets, derivatives, and how investors use quantitative tools from statistics and corporate finance theory. Included are interviews with some of the most interesting thinkers in finance. Occasional longer form financial documentaries, open up fascinating elements of financial markets history. Patrick Boyle is a quantitative hedge fund manager, a university professor, and a former investment banker. To contact Patrick visit http://onfinance.org Find Patrick on YouTube at: https://www.youtube.com/c/PatrickBoyleOnFinance DISCLAIMER:This podcast is not affiliated with any financial institution. The information provided is for entertainment purposes only and does not constitute financial advice. Those seeking investment advice should seek out a registered professional in their home jurisdiction and confirm their credentials on your national regulator's website. Patrick Boyle is not responsible for any investment actions taken by viewers and his content should not be used as a basis for investment or other financial decisions.